EXCERPTS

Reprinted with permission of John Wiley & Sons, 2007

A Culture of Virtue

The ability to create real value depends on a principled, entrepreneurial culture in which the members are passionate about discovery. Although employees are selected and retained on the basis of their values and beliefs, they must also have the necessary talent to produce results. Virtue without the required talent does not create value. But talent without virtue is dangerous and can put the company and other employees at risk. Employees with insufficient virtue have done far more damage to companies than those with insufficient talent. Several years ago, a supervisor in one of our plants decided – even after training – that a new government requirement wasn’t beneficial. He saw no need to comply with it. We self-reported his violation and also terminated the employee. Both virtue (that is, living by our shared values and beliefs) and talent (the specific skills and knowledge required to excel in a specific role) must be present.